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Durable Medical Equipment Market Analysis-2027
Durable Medical Equipment Report Analyses competitive environment such as key players, future trends, growths, challenges and acquisitions in the market.
Durable medical equipment (DME) are non-disposable equipment used in hospitals, clinics, and home care settings. Examples of DME are wheelchairs, walkers or hospital beds. DME used at home care settings are paid under Medicare part A and part B plans. Coverage for DME may include, wheelchairs, oxygen equipment, blood testing strips, crutches, and power mobility devices. This market has a strong reimbursement background which may expected to have some impact on the overall market.
Rising number of patients that require long-term therapy, drug delivery, and related products is expected to propel growth of the durable medical equipment market. Increasing prevalence of chronic conditions such as cancer, cardiovascular disorders, neurological disorders, and gynecological disorders is leading to high demand for long-term care at home care settings and hospitals and this is expected to facilitate demand for durable medical equipment. For instance, according to the CDC, 2015, around 800,000 people in the U.S. died due to stroke and other cardiovascular diseases.
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The DME market is fragmented with presence of large to small scale players, and thus, the competition is high among players. Industry players with a comprehensive portfolio are most likely to successfully capture market share.
Key players in durable medical equipment market are Stryker Corporation, Baxter International, Inc. Medtronic plc. Becton, Dickinson and Company, Medline Industries, Inc., Invacare Corporation, Sunrise Medical (US) LLC, ResMed, Inc., Drive DeVilbiss Healthcare, Inc. (Medical Depot Inc.) Hill-Rom Holdings, Inc., and others. Key players are adopting inorganic growth strategies such as mergers and acquisitions to retain their position in the market. For instance, in 2017, Becton Dickinson completed the acquisition of C.R. Bard, Inc. and both companies are focusing on improving treatment of diseases for patients. Furthermore, in February 2017, Hill-Rom acquired Mortara Instrument, Inc., a Wisconsin-based medical device manufacturer, to increase their medical device product portfolio and revenue growth.
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